There’s a nearly $2 trillion fiscal deficit, and of course the record $1.12 trillion goods deficit. And one way to bring that down is to produce revenue via trade – also known as tariffs. To some, that’s a dirty word, Trump told an ABC news affiliate in Las Vegas this weekend.
Reindustrialization might cause some above-target inflation. Deindustrialization, meanwhile, might take countries out of the running of the industries of today, and the future, too, said former European Central Bank president Mario Draghi.
To craft a pro-America trade and economic agenda, Harris should pledge to increase overall tariffs, use tax credits more broadly to grow critical production, and ignore Wall Street’s call to return to the failed trade policies of the past.
Harley-Davidson announced it is moving production of its Pan America, Sportster, and Nightster bike models from the U.S. to Thailand. Harley’s growing Thailand production is directly incentivized by 60% Thai motorcycle tariffs and corporate tax breaks.
Today, the Biden-Harris Administration published an announcement of regulatory changes it intends to pursue vis-a-vis the de minimis loophole.
The majority of House Democrats have joined forces with outgoing Oregon Congressman Earl Blumenauer in pleading that the President repeal the de minimis loophole in Customs law – a provision that many refer to as the China free trade agreement.
For years, the Solar Energy Industries Association (SEIA) has served as a de facto mouthpiece for Chinese solar manufacturers, consistently pushing policies that benefit China’s dominance in the solar industry at the expense of American manufacturers.
Tariffs must be part of the toolkit to manage the influx of products from Chinese tech companies, whether from e-commerce platforms like Temu or from a growing number of low-cost microchip manufacturers set to flood the global market with semiconductors.
In a recent speech at the New York Economic Club, and again during Tuesday’s debate against Kamala Harris, Donald Trump revived one of his signature policy proposals: tariffs as a powerful tool to revive American industry, protect jobs, and generate revenue for the federal government.
The Tax Foundation bills itself as the “world’s leading nonpartisan tax policy nonprofit”, but they do not understand the basic concepts of how tariffs work — or even what they are.
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